What Happens When I Lend My Car to Friends or Family?

If you own a car you have probably let a friend or family member borrow it at least once. There are plenty of reasons to do so: you may want a relative to pick up your kids from school or you just would like to help someone get to work after their car broke down. But did you ever wonder who will cover the costs in the event of a road accident when someone else is driving your car? Continue reading “What Happens When I Lend My Car to Friends or Family?”

What determines the price of an auto insurance policy?

Many factors help determine the cost of car insurance

The amount you’ll pay for car insurance is impacted by a number of very different factors—from the type of coverage you have to your driving record to where you park your car. While not all companies use the same parameters, here’s a list of what commonly determines the bottom line on your auto policy. Continue reading “What determines the price of an auto insurance policy?”

How the price of an auto insurance policy is calculated?

Many factors help determine the cost of car insurance

The amount you’ll pay for car insurance is impacted by a number of very different factors—from the type of coverage you have to your driving record to where you park your car. While not all companies use the same parameters, here’s a list of what commonly determines the bottom line on your auto policy. Continue reading “How the price of an auto insurance policy is calculated?”

8 auto insurance myths

1.    Does color determine the price of auto insurance?

The price of an auto policy is based on many factors, such as car make, model, body type, engine size and the age of the vehicle, as well as the car’s value, the cost to repair it, its overall safety record and the likelihood of theft. Insurers also take into account the age, driving record and sometimes the credit history of the driver. But it doesn’t matter whether your car is blue or red—the color doesn’t actually factor into your auto insurance costs. Continue reading “8 auto insurance myths”